Consolidated Lithium Extends Closing Date of Private Placement Financing
Toronto, Ontario – Consolidated Lithium Metals Inc. (TSXV: CLM, FRA: Z36) (“Consolidated Lithium” or the “Company”), a mineral exploration company focused on the acquisition and development of lithium projects, is pleased to announce that it has received conditional approval from the TSX Venture Exchange (“TSXV”) to extend the closing date of its previously announced non-brokered private placement financing (the “Offering”).
Extension of Offering
The Offering, which was originally scheduled to close on April 11, 2025, will now have a new closing date of May 11, 2025. The Company intends to use the net proceeds of the Offering for exploration and development activities on its lithium projects, as well as for general working capital purposes.
Background of Consolidated Lithium
Consolidated Lithium is a mineral exploration company focused on the acquisition and development of lithium projects. The Company’s flagship project is the 100% owned Mogok Lithium Project in Myanmar, which is located in the same region as the world’s largest sapphire deposit. The Mogok Lithium Project covers an area of approximately 19,000 hectares and is prospective for both hard rock and brine-hosted lithium deposits.
Impact on Consolidated Lithium
The extension of the closing date of the Offering provides Consolidated Lithium with additional time to secure financing for its exploration and development activities. The Company believes that this extension will allow it to attract more investors, particularly those who may have missed the initial announcement of the Offering. With the increasing demand for lithium due to the growing adoption of electric vehicles and the energy transition towards renewable energy sources, Consolidated Lithium is well-positioned to capitalize on this trend.
Impact on the World
The demand for lithium is expected to continue to grow in the coming years, driven by the increasing adoption of electric vehicles and the transition towards renewable energy sources. According to a report by Grand View Research, the global lithium-ion battery market is expected to reach USD 86.3 billion by 2027, growing at a CAGR of 17.1% from 2020 to 2027. The extension of Consolidated Lithium’s Offering is a positive sign for the lithium industry, as it indicates that there is continued investor interest in companies that are focused on the exploration and development of lithium projects.
Conclusion
The extension of Consolidated Lithium’s Offering is a positive development for the Company and the lithium industry as a whole. With the increasing demand for lithium, companies that are focused on the exploration and development of lithium projects are well-positioned to capitalize on this trend. The extension of the Offering provides Consolidated Lithium with additional time to secure financing for its exploration and development activities, and is a positive sign for investors who may have missed the initial announcement of the Offering.
- Consolidated Lithium receives conditional approval from TSXV to extend closing date of Offering to May 11, 2025.
- The net proceeds of the Offering will be used for exploration and development activities and general working capital purposes.
- The extension of the Offering will provide the Company with additional time to attract more investors.
- The lithium market is expected to continue to grow, driven by the increasing adoption of electric vehicles and the transition towards renewable energy sources.
- The extension of Consolidated Lithium’s Offering is a positive sign for the lithium industry and investors.
